First Five Years. Prior to the fifth anniversary of the Closing Date, no Shareholder shall sell, gift, exchange, assign, create any Encumbrance or otherwise dispose of (whether by operation of Law or otherwise) (each a “transfer”) any Shares, except for (i) transfers to a Permitted Transferee pursuant to Section 2.2, or (ii) transfers pursuant to Section 5.1. A change in control of a Shareholder shall be deemed a transfer of all of the Shares held by such Shareholder; provided, however, that a change in control of a SPE Shareholder shall only be deemed transfer of Shares under this Section 2.1 if such SPE Shareholder does not hold any Assets other than Shares.
First Five Years. Prior to the fifth anniversary of the Closing Date, no Shareholder shall sell, give, gift, exchange, assign, hypothecate, pledge, encumber, grant a security interest in or otherwise dispose of (whether by operation of Law or otherwise) (each a “transfer”) any Shares, except for (i) transfers to a Permitted Transferee pursuant to Section 2.3., or (ii) transfers pursuant to Section 5.1. A change in control of an Non-SPE Shareholder shall be deemed a transfer of all of the Non-SPE Shares held by such Non-SPE Shareholder.
First Five Years. Accrual will be at the rate of 1.6 days per month. Employees completing a given year will be granted sixteen (16) days retroactive to September 1 of that year, provided that the employee teaches the first three days of the school year.
First Five Years. For the period beginning at 0000 hours on the Commercial Operation Date and ending at 2400 hours on the fifth (5th ) anniversary of the Commercial Operation Date, the Environmental Attributes Contract Rate for each MWh of net energy delivered to the Point of Delivery shall be six dollars and fifty cents ($6.50) per MWh.
First Five Years. During the first sixty (60) full calendar months of the Main Term, Tenant shall pay annual Base Rent in the amount of $10.00 times the ground-floor gross leasable square footage contained in the Building (as measured from the exterior boundary of exterior building walls) (the "Initial Base Rent"), payable in equal monthly installments. In determining the ground-floor gross leasable square footage of the Building, the parties agree that the figure shall be as set forth in Tenant's approved Plans and Specifications. If any Lease Year is other than twelve (12) months in length, annual Base Rent during such Lease Year shall be the product of the applicable monthly Base Rent times the number of months in such Lease Year, with appropriate proration for any partial calendar month therein.
First Five Years. If, and only if, the Company fails to construct the improvements as provided in the Development Plan within the times specified therein, and in any event, within five (5) years from the Commencement Date, then the Company shall, within thirty (30) days of receipt of the Notice of Termination specified in G, above, re-convey the Property to the County. Any determination by the County that Company has failed to construct the required improvements shall be made and notice of said failure shall be provided by the County within 120 days following the end of year 5 from the Commencement Date. In such event, the Company shall remove from the Property all personal property and, such fixtures as the County directs, and the Property shall be free and clear of any encumbrances, liens or obligations of any kind. If reconveyance of the Property is impracticable because Company cannot remove its personal property, or cannot remove encumbrances, liens or other obligations, Company shall have the option of paying At Company’s option, Company shall pay Prior to any re-conveyance or surrender of Property, County shall offer Company the option to pay to the County $791,000.00, the agreed upon fair market value of the Property, less all sales and property tax revenue already received by the County in connection with the Project, in lieu of re-conveyance.
First Five Years. If any part supplied by Breeze33 fails due to defects in material or workmanship within the first five (5) years of purchase date by the ORIGINAL PURCHASER, Breeze33 will replace the defective part or replace the entire Product free of charge.
First Five Years. The Hospital District and Fire District acknowledge that in entering into this Agreement, significant financial and personnel resources have been expended. Therefore, neither the Hospital District nor the Fire District may terminate this Agreement within the first five (5) years following the Commencement Date except for a Material Breach of this Agreement which the breaching party fails to cure within a reasonable amount of time after receiving written notice from the non-breaching party. The Hospital District’s and the Fire District’s intent by this section is to provide both service stability to citizens and job security to employees.
